2. The following Trial Balance obtained from Mr. Sofi business in baby clothes on 31st December 2019. Furniture Motor vehicle Debtors Creditors Cash Bank Returns Rent TRIAL BALANCE AS AT 31st DECEMBER 2019 Electricity & water Sales & Purchases Provision for depreciation Furniture Motor vehicle Opening inventory Salary Capital Provision for doubtful debts Discounts Required: RM 9,000 40,000 7,500 12,000 600 550 420 3,500 4,800 1,000 450 79,820 RM 10,000 2,500 800 9,500 1,800 3,500 50,870 350 500 79,820 Additional information: a. Depreciation rate for motor vehicles is 10% on cost and furniture is 5% on cost. b. Provision for doubtful debts is 4% c. Rent paid is RM100 per month d. Accrued electricity & water is RM150 e. Closing stock at cost price is RM6,000 and the market price RM4,800 i. Statement of Comprehensive Income for the year ended 21st December 2019. ii. Statement of Financial Position as at 21st December 2019.

2. The following Trial Balance obtained from Mr. Sofi business in baby clothes on 31st December 2019. Furniture Motor vehicle Debtors Creditors Cash Bank Returns Rent TRIAL BALANCE AS AT 31st DECEMBER 2019 Electricity & water Sales & Purchases Provision for depreciation Furniture Motor vehicle Opening inventory Salary Capital Provision for doubtful debts Discounts Required: RM 9,000 40,000 7,500 12,000 600 550 420 3,500 4,800 1,000 450 79,820 RM 10,000 2,500 800 9,500 1,800 3,500 50,870 350 500 79,820 Additional information: a. Depreciation rate for motor vehicles is 10% on cost and furniture is 5% on cost. b. Provision for doubtful debts is 4% c. Rent paid is RM100 per month d. Accrued electricity & water is RM150 e. Closing stock at cost price is RM6,000 and the market price RM4,800 i. Statement of Comprehensive Income for the year ended 21st December 2019. ii. Statement of Financial Position as at 21st December 2019.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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xamus - cdn.student.uae.examus.net/?rldbqn=1&sessi... ACCT101_FEX_2021_2_Male A company purchased merchandise on credit with terms Ac Payable if the company pays SR485 cash on this account within ten days? e18 3/15, n/3O. How much will be debited to 33 - 34 abe18ce33 b. Accounts Payable should be credited in а. 485 113:22 9 కోల С. 470.45 95abe18ce 33 d. 500 95abe18ce 95abe18ce33 95aber8ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro F3 888 F4 FS E 5 F7 67 7 V T. 8 A 9 Y 6. U 11 9.
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Carson's Bakery operates its business on a calendar year-end and uses 3% of Accounts Receivable to estimate bad debt expense. The company presents the following information at December 31, 2020 before any adjusting entries have been made. Account DR CR Accounts receivable 978,000 Allowance for doubtful accounts 23,750 667,500 Net credit sales What will the company record for bad debt expense? Debit choose your answer... type your answer... Credit choose your answer... type your answer...
Required: Balance Sheet
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Carson's Bakery operates its business on a calendar year-end and uses 1% of Credit Sales to estimate bad debt expense. The company presents the following information at December 31, 2020 before any adjusting entries have been made. Account DR CR Accounts receivable 978,000 Allowance for doubtful accounts 23,750 667,500 Net credit sales What will the company record for bad debt expense? Debit choose your answer.. type your answer... Credit choose your answer... type your answer...
Prepare the SFP in Account Form
B Moore's Trial Balance as at 30 September 2021 Particulars DR £ CR £ Cash at Bank £45000 Cash in Hand £6800 Accounts receivable(Debtors) £8000 Accounts Payable( Creditors) £14500 Inventory 30 September 2020 £18000 Car £25000 Drawings £7500 Fixtures and Fittings £18500 Sales £95000 Purchases £110000 Return Inwards (Sales returns) £3500 Carriage inwards £890 Return Outwards ( Purchase returns) £720 Carriage outwards £500 Motor Expenses £1400 Rent £7000 Telephone charges £830 Wages and Salaries £14000 Insurance £1030 Office Expenses £800 Sundry Expenses £250 Capital £158780 £269 000 £269 000 Inventory as at 30 September 2021 is £13 000 Required: a) Prepare an Income Statement for B Moore for the year ending 30th September 2021 b) The following table shows the profit/loss for B Moore profitable since year 2013 Year 2013 2014 2015 2016 2017 2018 2019 2020 Profit/Loss £55800…
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